Tag Archives: Deposits

Banks Must Keep Deposits Record Of Scrapped, Valid Notes, Says Government

s New Delhi: To avoid any malpractices, the government has asked all public sector banks to strictly maintain a record of deposits made through both old Rs. 500 and Rs. 1,000 notes and other valid currencies. In a letter written to chief executive officers of public sector banks, the Finance Ministry asked that “maintenance of records regarding deposit of Specified Bank Note (SBN) and Non-SBN, as ... Read More »

SBI Collects Rs. 1,14,139 Crore In Deposits In Seven Days

  Mumbai: State Bank of India (SBI) on Wednesday said it collected Rs. 1,14,139 crore in deposits in last seven days after the government announced demonetisation of Rs. 500 and Rs. 1,000 notes. In a statement here on Wednesday, SBI said it saw 240.90 lakh cash deposit transactions between November 10 and November 16 up to 7 p.m. The government ... Read More »

SBI’s ‘Demonetisation Deposits’ Swell To Rs 75,945 Crore

SBI has seen Rs. 75,945 crore in deposits since the demonetisation of currency notes on November 8. Chennai: India’s largest lender State Bank of India (SBI) has seen Rs. 75,945 crore in deposits since the demonetisation of high-denomination currency notes on November 8, said a senior official on Sunday. “The cumulative deposits (of invalid Rs. 500 and Rs. 1,000 notes) ... Read More »

I Had Felt FCNR Deposits To Be An Idiotic Idea: Raghuram Rajan

RBI Governor Raghuram Rajan conceded that he thought the FCNR deposits idea to be “completely idiotic”. Mumbai: Outgoing Reserve Bank Governor Raghuram Rajan on Friday disclosed that idea of raising diaspora deposits, which changed the downward course of the rupee when he took over in September 2013, had come from bankers and he was very sceptical about it given the cost ... Read More »